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Am ARA REIT Managers Sdn Bhd (“Am ARA”), the manager of AmFIRST REIT, is actively seeking to acquire yield accretive properties with strong recurring rental income and growth potential since the beginning of this year in line with its future plans and acquisition strategies set out in the prospectus issued pursuant to its listing in December 2006.
In this connection, Am ARA has commenced a due diligence exercise on a mid-range suburban commercial complex in Klang Valley with estimated valuation of approximately RM250 million and expected property yield of around 8%. Should the Board of Am ARA decide to proceed with the said acquisition an announcement will be released upon the execution of a sale and purchase agreement in respect of the acquisition of aforesaid property.
This announcement is dated 18 May 2007
